Sam Bankman-Fried sentenced to 25 years in federal prison | CNN Business

- Sam Bankman-Fried, former CEO of the now-bankrupt crypto exchange FTX, has been sentenced to 25 years in federal prison for defrauding customers and investors - Bankman-Fried wanted to be politically influential in the country, which led to his financial crimes - He may be able to serve as little as 12.5 years with jailhouse credit and prison reform legislation - In addition to the prison sentence, Bankman-Fried was ordered to forfeit $11.02 billion, which will follow him for the rest of his life - There will be no restitution in this case due to the impracticality of identifying victims - Bankman-Fried's parents expressed heartbreak and intend to continue fighting for their son - Bankman-Fried's lawyer plans to appeal his conviction - The forfeiture amount was corrected to $11.02 billion - Troubled Chinese property giant Country Garden has also missed results Stock tickers: not applicable